Euro-Zone Barely Grows After Export Downturn Adds Pressure
- Output increased just 0.1%, initial reading was for 0.3%
- Germany, Italy weakness weighed on overall growth number
A market stall selling seeds for flowers in Amsterdam, Netherlands.
Photographer: Ksenia Kuleshova/BloombergThis article is for subscribers only.
The euro-area economy barely grew in the second quarter as new data showing a dismal performance for exports forced a downward revision in overall growth numbers for the region.
Gross domestic product rose only 0.1% in the three months through June, compared with a prior increase measured at 0.3% — an outcome that had surprised to the upside when first published in late July. Economists had anticipated that the reading would be repeated in fuller data, according to the median estimate in a Bloomberg survey.